Many of us start new business, launch new endeavours, begin new careers, etc. and some succeed and some do not. There are three main components that we all need to succeed: Core, Improvements and Innovation.
Without any of these items, we are likely to fail at one point or another. Maintaining the three components in the right balance, we are likely to succeed for long time.
The best balance of these three components are:
• Core – 70% of your work: Here is you master the craft, the business function of what you want to do. If you want to be a mechanic, here is where you become a master mechanic and know the field inside out and outside in.
• Improvements – 20% of your work: AFTER you become a master, you start making improvements to what you already know. Here is where you start becoming a class by yourself, where the market starts looking at you as a person / business to go. Note: You can hardly consistently and reliably make improvements to something you have not mastered. Here is where the mechanic find better ways to do it, making it more reliable, easier, etc.
• Innovation – 10% of your work: AFTER you become a master in your field and improved it, then you start innovating, making new things that no one else does, things that were never done before. This comes on top of improvements and you start realizing that the improvements are not good enough and that there is a better way to do it, so make it happen. Here is where the mechanic start making new parts, new engines, etc. that change how things works and make them better, additional functionality, more reliable and more cost efficient.
A common error make people make is to start doing innovation before they master the field. This can happen, but seldom is sustainable, reliable and consistent.